Craftport Cannabis Corp (OTCMKTS:BHHKF) is down 10% in a week. The company has issued an update about the 1161750 B.C Ltd owned Pitt Meadows facility.
Trading Data
On Monday, BHHKF stock ended flat at $0.0369 with more than 200 shares, compared to its average volume of 1.4K shares. The stock has moved within a range of $0.0369 – 0.0369 after opening trade at $0.0400.
Craftport Cannabis Provides Update Regarding Pitt Meadows Facility
Pitt Meadows signed two separate cultivation agreements. The first one was with a third party to help with cultivation activities on approximately 12,000 Sq. ft. of space in area 4 within the facility. The agreement has a four-year term with an allowance for an extension for two consecutive years. Interestingly either party can terminate the agreement without or with any reason and after giving a 180-days notification.
On November 23, 2020, the second agreement was signed for cultivation activities on 36,000 sq. ft. of space within area 3. The term of the agreement was four years with an option of an extension for two consecutive years and had the same termination terms as the first agreement. The company had suspended operations at the facility except for the two agreements, but on December 12, 2021, it issued a written notice to both parties to terminate the agreements. Investors should watch BHHKF.
Technical Data
BHHKF stock is trading above the 10-Day and 50-Day Moving averages of $0.0250 and $0.0234 respectively. However, the stock is trading below the 200-Day moving average of $0.0468.
